Consumers are the CFPB’s Eyes and Ears, But Only When Convenient
With the CFPB's emphasis on its complaint database serving as its eyes and ears, one would think that payday lenders would be near the top of the complaint list, given the CFPB's proposals to nearly regulate the industry out of existence. But complaints against payday lenders constitute less than 1% of the bureau's complaint database. What's at the top? Complaints about mortgages (36%). [8/24/15]